Economics · Economic Growth and Technology
Country Z has invested heavily in technological innovation, particularly in the field of artificial intelligence and automation. This investment has led to increased productivity across multiple sectors of the economy. What is the likely effect of this technological investment on Country Z's economic growth?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Technological investment will have no effect on economic growth due to global competition.
- 2Technological innovation will lead to higher productivity and sustained long-term economic growth.✓
- 3Economic growth will be limited, as the gains from technology will be offset by rising inequality.
- 4Technological innovation will reduce the labor force and increase unemployment.
Correct answer
Technological innovation will lead to higher productivity and sustained long-term economic growth.
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